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Bankia has gradually moved away from non-core activities. This process has been carried out in an orderly manner, after minutely weighing all available options and choosing those that offer the highest return.

In 2015 the bank disposed of 220 companies, with proceeds of 909 million euros, as against 65 disposals in 2016, with proceeds of 566.57 million euros.

In 2016, 65 companies

Sold
Total gains from disposals of Bankia’s non-strategic assets came to 34.58 million euros

The 65 companies sold in 2016 included 16 manufacturing companies, which brought proceeds of 130.72 million euros and gains of 16.45 million euros, not including the deferred price for Globalvía, 50% of which was transferred to various international funds in October 2015. The 41 real estate companies sold (18 subsidiaries and 23 associates of associates) brought proceeds of 24.78 million euros. In short, total gains from disposals of Bankia’s non-strategic assets came to 34.58 million euros.

As of 31 December, the group had 87 investees, of which 69 were consolidated.

Non-performing loans

In July 2016, Bankia completed the sale of a portfolio of non-performing and written off loans to various industrial sectors valued at 385.9 million euros. The sale met a dual objective: reduce the non-performing loan ratio and free up resources for new lending. Of the 385.9 million euros total, 253.9 million euros were from Bankia and the other 132 million euros, from BFA.

After disposing of this portfolio, the group’s stock of non-performing loans dropped by 230.2 million euros, as the remaining 155.7 million euros was fully covered by provisions.

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